Zcash Price Plummets 40% Due to Security Flaw Revelation
- Security Flaw Uncovered: A security bug that lay dormant in Zcash's code for four years has been revealed, causing ZEC to plummet nearly 40%, leading to a trust crisis within the Zcash ecosystem as investors question the integrity of its supply.
- Severity of the Flaw: The vulnerability allowed attackers to mint unlimited fake ZEC or double-spend existing coins undetected, as its privacy features concealed any fraudulent activities, thereby increasing market uncertainty.
- Emergency Fix Implemented: Developers swiftly deployed an emergency patch on June 1; however, the lack of a cryptographic method to verify whether the bug was exploited before the fix complicates the recovery of market confidence, putting ZEC's price at risk of further declines.
- Key Support Level Analysis: ZEC is currently trading near the critical support level of $300; a confirmed close below this level could accelerate a move down to $194, while holding above $300 may allow for temporary stabilization, although the broader crypto market continues to face headwinds.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0107 | 0.0154 | 0.0197 | 0.0244 | 0.0287 | 0.0334 | 0.0377 |
| Fibonacci | 0.0154 | 0.0188 | 0.0209 | 0.0244 | 0.0278 | 0.0299 | 0.0334 |
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